DUKE POWER OFFERS NEW PAYMENT AND RATE OPTIONS - Duke Energy

News Release
February 22, 2005

DUKE POWER OFFERS NEW PAYMENT AND RATE OPTIONS

CHARLOTTE, N.C. – Duke Power now offers an Equal Payment Plan option for business customers and a new rate to encourage more energy efficient home construction. 

“Our customers have told us that they prefer options, and our new rate offerings expand existing options,” said Sandra Meyer, group vice president of Duke Power’s customer service, sales and marketing. “We look forward to hearing our customers’ feedback and are committed to seek solutions that are desired by our customers.”

Equal Payment Plan now available to business customers
Duke Power’s Equal Payment Plan, which helps customers manage fluctuations in their electricity bills, is now offered to business customers with good payment history. The plan is based on a customer’s previous 12 months of usage and has an annual balancing feature. The company will periodically compare the customer’s actual usage to the Equal Payment Plan monthly payment and adjust the payment if necessary to avoid a large true-up payment.    

Customers with multiple metered agreements on an account will have the option of getting a single monthly Equal Payment Plan amount.   

Business customers can call Duke Power’s business center line at 877/385-3722 to learn more about the Equal Payment Plan for business. 

Energy Star rate introduced to residential customers
Duke Power is introducing Energy Star rates that provide residential customers with a reduction in their electric bill if they meet national Energy Star home efficiency standards which result in 30 percent greater efficiency than previous building codes.  The Energy Star rates consist of various energy efficiency options, one of which replaces Duke Power’s existing RE2 residential energy efficiency rate. Homes currently on the RE2 rate can continue to be on that rate if they meet RE2 requirements.  

In addition to receiving Duke Power’s lowest rate for new construction, Energy Star homes will have additional savings since they will be more energy efficient than homes meeting previous efficiency standards.   

Residential customers can call Duke Power at 800/827-5114 to learn more about the Energy Star rate.

Duke Power, a business unit of Duke Energy, is one of the nation’s largest electric utilities and provides safe, reliable, competitively priced electricity and value-added products and services to more than 2 million customers in North Carolina and South Carolina. The company operates three nuclear generating stations, eight coal-fired stations, 31 hydroelectric stations and numerous combustion turbine units. Total system generating capability is approximately 19,900 megawatts. More information about Duke Power is available on the Internet at: http://www.dukepower.com.

Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers and processes energy for customers in the Americas. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: http://www.duke-energy.com.

Contact: Tom Williams
Phone: 980/373-4743
24-Hour Phone: 704/382-8333
e-mail: tcwillia@duke-energy.com